Ep 7: What Exactly is a Trust?

Today we want to spend some time really delving into what a trust is and why someone would choose this over a will. To help us with this topic, we’ve invited Mike Bennett of MCB Estate Planning to the show. He’s one of our estate planning partners who has more than two decades of experience and understands the ins and outs of a well-constructed estate plan. 

 Here is some of what you will learn in this episode:

·      The main differences between a will and a trust. (2:48)

·      What probate is and why you’d want to avoid this for your estate.  (4:02)

·      What makes people hesitant to get their estate plan finished?  (6:45)  

·      Some of the common scenarios where a trust can benefit someone.   (9:49)

·      Why you should be reviewing your trust every three to five years. (17:29)

·      How does moving out of state impact a trust that you already set up? (21:10)

·      The situations where a trust might not be necessary for you. (22:57)

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.